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Brent Crude Spikes Above $61, Highest Since December

Having quietly tested the $52 level and brushed with green on the week overnight, crude traders have decided that a surprise European GDP beat is good enough to outweigh all the over-supply fears and pushed WTI to $53 (with Brent breaking above $61 - highest since 12/23).

 

WTI tops $53...

 

Brent spikes above $61 - highest since before Christmas...

 

Charts: Bloomberg